The settlement would involve a deferred-prosecution agreement with the Justice Department and could come within weeks, according to the person, who asked not to be identified because the discussions are private.

The Justice Department, the Federal Reserve and the U.S. Treasury’s Office of Foreign Assets Control are investigating Credit Agricole on the federal level. In New York, it’s being handled by the Department of Financial Services, which regulates banks, and the Manhattan District Attorney’s office, which has originated a number of sanctions violations cases against global banks.

Ian Bolland

A journalism graduate of Liverpool John Moores University. During his time at university, Ian spent time on work experience at local newspapers in Liverpool, Bolton and Wigan, and prior to that he did work for The Observer's 'fans verdict'. Ian also has interests in news, current affairs and business but mostly sport, including football, rugby league, cricket, golf and Formula 1, amongst others.